Vertical Exploration Initiates Phase I Exploration Program on Newly Acquired Quebec Wollastonite Properties
VANCOUVER, BC / March 23rd, 2022 / VERTICAL EXPLORATION INC. (TSX-V: VERT) (“Vertical” or “the Company”) is pleased to announce the start of a Phase I exploration program on its recently acquired Quebec wollastonite properties (see Vertical’s January 17th, 2022 news release) to detect and define the presence of sedimentary zones that could potentially host wollastonite mineralization.
The two Quebec properties recently acquired by the Company are located in the region surrounding Vertical’s St-Onge project as follows: i) the La Petite Rivière Péribonka and Ménard Wollastonite claims located just north of Lac-Saint-Jean, consisting of a total of 35 mining titles (1960 hectares); and ii) the Le Grand Étang Block claims, consisting of 11 mining titles (616 hectares). Both of these properties are characterized by a geological sequence of marble, undifferentiated calco-silicate rocks and quartzite. These two properties are still at an early stage of exploration; however, their stratigraphic sequence can be traced over a distance of several kilometers and may lead to new wollastonite discoveries.
The Phase I program will include a ground geophysics survey and a follow-up field campaign consisting of prospecting, mapping and rock sampling (trenching and channel sampling). A detailed review of all results and information compiled by previous vendors of the properties and the Government of Quebec is currently being undertaken by the Company in order to generate the primary target zones for the Phase I exploration program. Following the completion of the Phase I program, Vertical is also planning to initiate a follow-up Phase II core drilling program this summer based on the Phase I results. Finally, a review of all results acquired during both the Phase I and II programs may also lead to a more advanced preliminary bulk sampling program later this summer and fall in order to help better define the geochemical nature of the potential wollastonite zones. The region surrounding the two properties is also well known for several nickel showings, so Vertical will also be expanding its exploration interests in order to generate potential exploration targets for nickel and other base metals on its prospective properties.
Peter P. Swistak, President/CEO of Vertical Exploration Inc., commented: “We are excited to begin the Company’s maiden exploration campaign on the recently acquired Quebec properties located in the region nearby St-Onge. Vertical believes that these two properties are the most prospective remaining wollastonite properties in mining friendly Quebec, and that they will serve to complement our world-class St-Onge Wollastonite project and support the Company’s plans to become a leading supplier of premium grade wollastonite. We anticipate an active exploration program on the two properties, and look forward to sharing the results with our shareholders as the program progresses this summer and fall.”
All technical and scientific information in this press release has been reviewed and approved by Bertrand Brassard, M.Sc., P.Geo., who is a Qualified Person as defined by NI 43-101.
ABOUT VERTICAL EXPLORATION Vertical Exploration’s mission is to identify, acquire, and advance high potential mining prospects located in North America for the benefit of its stakeholders. The Company’s flagship St-Onge Wollastonite property is located in the Lac-Saint-Jean area in the Province of Quebec.
ON BEHALF OF THE BOARD
Peter P. Swistak, President/CEO
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FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).